Financial Crisis

[Naam]

If you have no idea or opinion on what kind of policy mark carney might do it would of been better to just keep quiet than try to claim that you don't indulge in opinions at all.

Your comments about less than 5millions being "futile" is not correct at all, is a lame attempt to show off ; but I can not be bothered to get in to another 10posts of time wasting. Apologies to the wider readers who have to sit through this balls.

you mean you have less than five million?

[mccw]

http://businessweek.com/articles/2012-11-29/dollar-less-iranians-discover-virtual-currency

[ronz28]

US needs to focus on its tax policy.

http://www.youtube.com/watch?feature=player_embedded&v=cwg4DB-EeEA#!

[mania]

US needs to focus on its tax policy.

http://www.youtube.c...v=cwg4DB-EeEA#!

That video has a little bit of truth in it.

The part that said "Look Over There" is a diversion.

Because this video knowingly or not is doing the same thing.

The main problem is not with the 1% & not with the 99%

The problem is with governments gone wild.

Taxation in itself at the Federal level is a crime.

Taxation to wage useless wars is a crime

The creation of funny money when they deem fit at the stroke of a key is a crime

The power to raise their credit card spending limit when they choose is a crime.

The power to threaten their employers with cuts to the few benefits earned through taxation schemes

instead of cuts to the useless spending is a crime.

100% of us need to Look Over THERE & stand united against such thievery.

Not get divided & tricked into looking at each other as neither the 1% nor the 99% can so much

as make a small dent in the problem they created by bending over once again.

They will be back year after year with more reasons they need more.

They are to be treated like the junkies they are & be cut off from their supply/money taken from our labors.

It will never be enough.

[Naam]

http://businessweek....irtual-currency

Bitcoins are useful to Iranians wishing to move their money abroad, either to children studying in Europe or America or simply to stash cash in a safe place.

all what they have to do is load their Rials on a USB-stick, go to the next internet café, plug the stick into a PC and exchange them for Bitcoins.

as simple as that

[mccw]

http://rt.com/business/news/deutsche-bank-hid-12-billion-losses-420/

Dodgey accounting, shadowy derivatives, conflicts of interest in high office. All par for the course these days

[Naam]

http://rt.com/busine...ion-losses-420/

Dodgey accounting, shadowy derivatives, conflicts of interest in high office. All par for the course these days

danger? if yes, how do we fight that danger?

[yoshiwara]

http://rt.com/busine...ion-losses-420/

Dodgey accounting, shadowy derivatives, conflicts of interest in high office. All par for the course these days

says the man who thinks derivatives are devil's spawn.

[mccw]

http://rt.com/busine...ion-losses-420/

Dodgey accounting, shadowy derivatives, conflicts of interest in high office. All par for the course these days

says the man who thinks derivatives are devil's spawn.

Some maybe be legitimately used for business such as gold dealers but the vast majority are bets, unregulated bets at that. Who thinks a 9bl loss can b from normal hedging activity?

[mccw]

http://rt.com/busine...ion-losses-420/

Dodgey accounting, shadowy derivatives, conflicts of interest in high office. All par for the course these days

danger? if yes, how do we fight that danger?

To fight

Just a few ideas easily implemented but impossible to pass with this bought "democracy", On a societal level create a limited money supply and have banks run as utilities, comodities trade markets only for physical delivery and shares with a min 5 year hold. A bit more out of the box- forgive all debt before announcing the new currency and banking system.

On a personal level - can buy PMs and step out of their system as much as possible. There will be a point where physical demand or unwillingness to sell at paper induced prices will break the market; which could bring the whole house of cards down. Taking money out of the banks and keeping it in PMs is effective protest aswell as investment.

[Naam]

http://rt.com/busine...ion-losses-420/

Dodgey accounting, shadowy derivatives, conflicts of interest in high office. All par for the course these days

says the man who thinks derivatives are devil's spawn.

Some maybe be legitimately used for business such as gold dealers but the vast majority are bets, unregulated bets at that. Who thinks a 9bl loss can b from normal hedging activity?

bets

any investment is basically a bet for yield/profit. what is the difference between betting on stocks, bonds, commodities, currencies, real estate and betting on precious metals? who is entitled to judge what is legal oder illegal?

the "betting" goes in daily life, e.g. old Farang marries young Thai girl, builds house in her name and bets that she will "lubb him too mutt long time"

[ronz28]

US federal government only gets (taxes) 15% of GDP now- the lowest in 60 years, but it spends on weapons systems, wars, nuclear power, etc. like a drunken sailor so business can profit from the spending. See page 10 of the current PDF from US Treasury at http://www.treasury.gov/resource-center/data-chart-center/Documents/20120502_EconomicGrowth.pdf

The wars kill and disable our warriors but the US politicians promise to take care of them and their families for life. These costly entitlements are never funded by the Presidents and Legislatures who start wars with the promise the nation will balance the budget 5 years+ after they leave office. In the US, earnings over $110k per year are exempt from payroll taxes for supporting the disabled, widows and orphans, so the elites can start wars and don't have to pay for the results of their actions unless they choose to enlist. Now, of course, they don't want to pay for the earned entitlements because they might actually have to close some tax loopholes they use and pay effective tax rates more than the 14% Romney pays rather then than the 35%+ max tax rate most never pay.

Edited December 6, 2012 by ronz28

[Naam]

US federal government only gets (taxes) 15% of GDP now- the lowest in 60 years, but it spends on weapons systems, wars, nuclear power, etc. like a drunken sailor so business can profit from the spending. See page 10 of the current PDF from US Treasury at http://www.treasury....nomicGrowth.pdf

correct. but politicians, eggheads, lecturers, @nalysts and various other 'eggsburts' keep on bullsh*tting an ignorant public by presenting rubbish such as Debt/GDP ratios.

that does not apply only to the U.S. of A. but to any other country too. in very few cases Debt/GDP reflects the actual state of a county's sovereign debt. the only accurate measure is Revenue/Debt Service!

[ajarnpot]

I quite like the musical

FT ALPHAVILLE

Bugger the bankers, the musical: It's hard to add much more than that...

Papering over the cracks at Deutsche (allegedly): Kate takes us through the details of Thursday's most exciting story: the fact that Deutsche Bank may have failed to recognise up to $12bn of paper losses during the financial crisis, helping the bank to avoid a government bailout. And the FT's analysis piece is here.

[Naam]

I quite like the musical

FT ALPHAVILLE

Bugger the bankers, the musical: It's hard to add much more than that...

Papering over the cracks at Deutsche (allegedly): Kate takes us through the detailsof Thursday's most exciting story: the fact that Deutsche Bank may have failed to recognise up to $12bn of paper losses during the financial crisis, helping the bank to avoid a government bailout. And the FT's analysis piece is here.

water under the bridge they managed without Berlin shoving billions up theirs. several hundred billions were pumped into other German banks and not a single penny will be recovered but that doesn't make an interesting story for FT Omegaville

Edited December 7, 2012 by Naam

[mccw]

any investment is basically a bet for yield/profit. what is the difference between betting on stocks, bonds, commodities, currencies, real estate and betting on precious metals? who is entitled to judge what is legal oder illegal?

the "betting" goes in daily life, e.g. old Farang marries young Thai girl, builds house in her name and bets that she will "lubb him too mutt long time"

I'm not against personal risk taking, indeed I think in west there is far too much red tape on the day to day biz and life of average citizen. If an individual goes broke the tax payer isn't forced to bail them out

[Naam]

any investment is basically a bet for yield/profit. what is the difference between betting on stocks, bonds, commodities, currencies, real estate and betting on precious metals? who is entitled to judge what is legal oder illegal?

the "betting" goes in daily life, e.g. old Farang marries young Thai girl, builds house in her name and bets that she will "lubb him too mutt long time"

I'm not against personal risk taking, indeed I think in west there is far too much red tape on the day to day biz and life of average citizen. If an individual goes broke the tax payer isn't forced to bail them out

we are in agreement! banks should not be allowed to gamble with the money of their clients. unfortunately this was and has been done since banks and similar institutions existed. in 2008 the politicians had most banks by their balls, made big words but unfortunately did not act.

they missed the chance and are concentrating on mere window dressing based on ridiculously low restrictions such as Basel III. and the latter already shaky as far as its implementation is concerned.

[mccw]

The power house of Europe, the last nation carrying the bankrupt:

"Debt crisis in Europe is denting Germanys prospects as the countrys central bank, the Bundesbank, has significantly cut its 2013 growth forecast to 0.4% from 1.6%.

Bundesbank has also lowered its forecast for 2012 growth to 0.7% from the 1% it predicted in June.."

- RT app

They've managed to kick the can far longer than I expected, but for how much longer can the can kicking be afforded? I'd guess at not past 2014

[midas]

Wind extinguishes a candle and energises fire.

for survivalists who are preparing to make an economic end-game scenario as “comfortable” to live through as we can, it is incumbent upon us to consider the kind of company we keep during the gambit. Some allies will make that mad world bearable; others will bring the madness to your doorstep

http://www.alt-marke...e-even-less-fun

Edited December 8, 2012 by midas

[jacnl2000]

The power house of Europe, the last nation carrying the bankrupt:

"Debt crisis in Europe is denting Germanys prospects as the countrys central bank, the Bundesbank, has significantly cut its 2013 growth forecast to 0.4% from 1.6%.

Bundesbank has also lowered its forecast for 2012 growth to 0.7% from the 1% it predicted in June.."

- RT app

They've managed to kick the can far longer than I expected, but for how much longer can the can kicking be afforded? I'd guess at not past 2014

Guess Germans feel quite proud after having noticed a relative quick decrease of their deficit while at the same time German taxpayers donated a lot of their money for solving the [Greek] dept problem. That the decrease of the German deficit was going to happen was already explained almost one year ago (18.12.2011) in “

.” so this fact is not really new news containing an unexpected surprise. One of the sleepy heads working at Bild am Sonntag (02.12.2012) presented Mrs. Merkel proudly ”voll im Bild”. Now we simply wait for somebody taking the opportunity of accusing Mrs. Merkel of one-sidedness in the land of the blind. When indeed the engine of the current EU car contains a serious design flaw, which is no secret, then, yes, EU tax-payers money will be pushed over a cliff periodically in an irreversible way. Mrs. Merkel’s finance minster of the year Wolfgang Schäuble (

) accented the importance of growth. Here in Bild am Sonntag Mrs. Merkel confuses the faulty current EU engine with the currently successful German economy, so in principle only buying time and probably hoping that Germany as it is Europe’s economic powerhouse generates sufficient German money out of the expected growth for the next upcoming deposit for the Greeks in the near future:

”Das derzeitige Hilfsprogramm für Griechenland läuft bis 2014, für die Erreichung bestimmter Haushaltsziele haben wir den Griechen zwei Jahre mehr Zeit gegeben, bis 2016. Wenn Griechenland eines Tages wieder mit seinen Einnahmen auskommt, ohne neue Schulden aufzunehmen, dann müssen wir die Lage anschauen und bewerten. Das ist nicht vor 2014/15 der Fall, wenn alles nach Plan läuft.​“

My German is quite excellent. A priori I’m not an eurosceptic of the likes of

so like to add quite a few questions right now before becoming one a posteriori. Btw. here’s Sara Firth talking to Aris Hatzistefanou, author of the documentary ”Debtocracy“, who casts doubt on the course EU leaders have chosen, to tackle the debt crisis:

[media]

[\mediia]

Greek media sending the Greek people "black mails" comes to [my] mind. Simularly, I think to have read Mrs. Merkel has a plan! : - ) No need to elaborate the quite poetical term “[Griechische] Einnahmen“? Whether or not it‘s medically addictive it’s certainly raised the patients dis-ease, no? And where exactly “ist eines Tages“ pinpointed on our mutually shared time axis? Having a plan is supposed to be a good sign, isn’t it? Just what is “das Plan“ Mrs. Merkel? Does it constitute something more advanced than only an agenda filled with future dates for political money movers? The term “bestimmter Haushaltsziele“ is IMO not only quite a disastrous high level political EU term currently applied to the Greeks but of course also quite applicable to each and every taxpayers “Haus“ in the EU. In todays world full of highly educated cheaters not the statement “ 50% of “Wirtschaft“ is [social?] psychology “ needs to come to mind but much more simple good and old fashion personality traits such as honesty and fairness. I will stop my usual rambling and again switch back to listen mode.

[Naam]

The power house of Europe, the last nation carrying the bankrupt:

"Debt crisis in Europe is denting Germanys prospects as the countrys central bank, the Bundesbank, has significantly cut its 2013 growth forecast to 0.4% from 1.6%.

Bundesbank has also lowered its forecast for 2012 growth to 0.7% from the 1% it predicted in June.."

- RT app

They've managed to kick the can far longer than I expected, but for how much longer can the can kicking be afforded? I'd guess at not past 2014

i'm afraid the can kicking will go on for years to come. the handling of Greece' bankruptcy is a clear indication. the same applies to Portugal and Spain. sovereign book debt is balanced by creation of sovereign book money out of thin air. none of this "printed" money does exist physically and can therefore not generate inflation. inflation of commodities is also limited because sooner or later a point will be reached where the masses can't afford any additional consumption.

German growth is irrelevant to the ECB's capability creating book money.

summary: the show will go on!

Edited December 8, 2012 by Naam

[mccw]

http://www.alt-marke...e-even-less-fun

The author sounds like he has a few issues of his own.

Point 2) in the list about mini lords and fees- sounds perfectly reasonable to charge a fee and be the boss if its your supply's and land that people want to join in to be a part of. Listening to different opinions is good but having a sole leader / descionakee in extreem scenario would save time and trouble bickering

Personally I wouldn't invite any one apart from close friend and family.

Looking forward to building my manor in Thailand. In the event of economic collapse I don't think they'll be any real social break down like in the West.

Edited December 8, 2012 by mccw

[midas]

what more proof do we need

Edited December 9, 2012 by midas

[Naam]

what more proof do we need

only ignorants believe the lies of the Irish president. imprisoned were not the "banksters" but their creditors. and as far as the "bail-out" of the "people" is concerned a brief look at the unemployment rate shows the facts:

Irish unemployment 2007= 4.0%

Irish unemployment today=14.7% (+267.5%)

summary:

-talk is cheap.

-accepting cheap talk without verifiying its content is lazyness.

[Naam]

latest twist in the EU soap opera. Monti resigning? Bunga-Bunga Berlusconi back?

[mccw]

what more proof do we need

only ignorants believe the lies of the Irish president. imprisoned were not the "banksters" but their creditors. and as far as the "bail-out" of the "people" is concerned a brief look at the unemployment rate shows the facts:

Irish unemployment 2007= 4.0%

Irish unemployment today=14.7% (+267.5%)

summary:

-talk is cheap.

-accepting cheap talk without verifiying its content is lazyness.

Looks like you are mixing up islands- He was talking about Iceland, not Ireland

Edited December 9, 2012 by mccw

[mccw]

Ireland being one of the failed EU states forced in to austerity to pay back unsecured bond holders; the opposite of what Iceland did.

[midas]

what more proof do we need

only ignorants believe the lies of the Irish president. imprisoned were not the "banksters" but their creditors. and as far as the "bail-out" of the "people" is concerned a brief look at the unemployment rate shows the facts:

Irish unemployment 2007= 4.0%

Irish unemployment today=14.7% (+267.5%)

summary:

-talk is cheap.

-accepting cheap talk without verifiying its content is lazyness.

Looks like you are mixing up islands- He was talking about Iceland, not Ireland

what else would we expect from a " number 1 " type ?

He seems to have an answer to every question or concern, which would be nice if he actually knew what he as talking about half of the time. Usually, this is not the case. He may have expertise in a certain field, like farming, or building, or engineering,or a " scientist ", or even defense, and this is indeed valuable However, his mastery of one area of knowledge has inflated his ego to massive proportions and he now pretends as if he is some kind of hyper-educated elitist potentate that dismsisses the need to read books. When approached with alternative options and methods, he will respond with ridicule as if you have no clue what you are talking about. When his ideas are criticized, he will react with fury, and try to remove dissenters from the community entirely.

definately " lazyness " to mix up one's islands by our resident " number 1 " type

Edited December 9, 2012 by midas

[cheeryble]

i'm afraid the can kicking will go on for years to come.

The funny thing is that historically hidden improvements in efficiency and other engines of "growth" will gradually kick in.

What really needs dealing with will be dealt with, and one day, suddenly, sentiment will have changed.

Edited December 9, 2012 by cheeryble

[mccw]

i'm afraid the can kicking will go on for years to come.

The funny thing is that historically hidden improvements in efficiency and other engines of "growth" will gradually kick in.

What really needs dealing with will be dealt with, and one day, suddenly, sentiment will have changed.

With the energy in out picture in the resource picture as it is I think the only thing to bring growing living standard would be a leap in technology. Just a change in sentiment under present day parameters would soon be killed by massive inflation due on one front to all the money sloshing around but more critically due to the cost of getting at the remaining resources and the demands from size of the populations now after them . 9bl people by 2050 i think it was projected.

Always like to hear another side whys or whys nots though